Varroc Engineering Ltd - 541578 - Compliances-Reg. 54 - Asset Cover details
Asset Cover Certificate for the Quarter ended June 30, 202309-08-2023
09-08-2023
Q1FY24 Quarterly Result Announced for Varroc Engineering Ltd.
Auto parts & equipment company Varroc Engineering announced Q1FY24 results: Consolidated revenue from operations was Rs 17,925 million in Q1FY24, registering a growth of 10.0% on a YoY basis Consolidated EBITDA margins in Q1FY24 were at 10.0%, improved by 180 bps YoY and 50 bps QoQ PAT from continued operations was positive at Rs 550 million in Q1FY24 as against the loss reported in Q1FY23. Tarang Jain, CMD commented, “Speaking about the global economy, it has been more resilient despite monetary tightening by most of the central banks as core inflation remains above the target levels. Despite the turmoil in the financial markets, we see a strong labor market and consumption in developed economies. The Indian economy on the other hand has sustained its growth momentum in FY24 so far. Core inflation has started to moderate which is helping RBI not to increase the interest rate further thus supporting the economy. In terms of our operations in Q1FY24, we continued our journey of improving performance. Our revenue from operations grew by 10.0% on a YoY basis to Rs 17,924 million. Our EBITDA margin was at 10.0% in the quarter and it improved on YoY basis by 180 bps due to improvement in Indian and overseas operations and certain incentives from Govt. Sequentially also the EBITDA margin has gone up by 50 bps. The reported PBT for the quarter was Rs 652 million which includes profit from our joint venture of Rs 61.3 million. The ongoing monsoon and festive season will be key to watch out for the Automobile sector to continue its momentum. The reduction in fame II subsidy from June 1, 2023, for EV vehicles impacted EV volumes sharply but we are cautiously optimistic about the recovery in volumes in the coming months. Our focus will remain to strengthen our competitiveness in India and globally by developing world-class products and services. We will enhance and leverage our global footprint as we are a global company with strong roots in India. During the current financial year, our businesses will continue to deliver growth and returns while maintaining strong fiscal discipline.” Result PDF09-08-2023
Varroc Engineering Ltd - 541578 - Nil Deviation Report
Utilization of Funds- Nil deviation Report09-08-2023
Varroc Engineering Ltd - 541578 - Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association
Changes proposed in AOA09-08-2023
Varroc Engineering Ltd - 541578 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investor Presentation & Press Release09-08-2023
Varroc Engineering Ltd - 541578 - Announcement under Regulation 30 (LODR)-Change in Directorate
Change in Directors09-08-2023
Varroc Engineering Ltd - 541578 - BM Outcome- 09061983
BM Outcome other matters under Regulation 3009-08-2023
Varroc Engineering Ltd - 541578 - Board Meeting Outcome for BM Outcome-Other Items
BM Outcome-other items09-08-2023
Varroc Engineering Ltd - 541578 - UFR For The Quarter Ended On June 30, 2023
Board Meeting Outcome - Unaudited Financial Results09-08-2023